Jansen Huang interview on CNBC fails to kickstart the stock. Technicals tilt lower in ST. | Forexlive
CNBCs James Kramer interviewed and videos Jansen Huang. Shares of Nvidia when trading at $863.23 as the interview got going. Shares are trading at $856.17 down $28 38 or -3.18%.
Looking at the hourly chart below, the prices currently trading below its 100 hour moving average for the first time since February 20 and February 21 just before earnings were released after close on February 21. On February 22, the price gap higher after earnings beat expectations.
Nvidia shares are lower
The 100-hour moving average is currently at $865.36 (below in the chart above). Getting back above that moving average level and staying above would be needed to increase the short-term bullish bias from a technical perspective. Absent data, and the sellers are in play at least (in the short term). The next major target comes against the rising 200 hour moving average at $798.77 (green line in the chart above)